BUSINESS
Sample insurance products are need of the hour
With life insurance penetration (premium as a percentage of GDP) below 4 percent and general insurance penetration below 1 percent, there is a dire need to make policies more appealing to customers.
BUSINESS
Group life insurance numbers hit due to cost pressures at India Inc
Insurers said that manufacturing firms and FMCG companies are now buying covers on a group platform only for employees above a certain pay-scale.
BUSINESS
Orient Electric enters affordable luxury segment with chandeliers
In an interaction with Moneycontrol, Atul Jain, Executive Vice President, Orient Electric said that the company is planning to launch a few more products ahead of summer.
BUSINESS
Auto makers under scanner for forceful sale of motor insurance policies to customers
According to the law, motor third-party insurance is mandatory for all vehicles running on Indian roads. These products are usually purchased from the same dealer from where an individual buys his car or bike.
BUSINESS
LIC sees 291% jump in investment income from FY09-19 period
Data from the LIC Annual Report 2018-19 released last week showed that the income from investments stood at Rs 2,21,573.72 crore at the end of FY19.
BUSINESS
US-Iran tensions: Indian insurers face the heat
With oil importers being forced to buy higher insurance covers for the crude being brought in, reinsurers are turning cautious.
BUSINESS
Time to create monolith PSU general insurer?
The finance ministry is in the early stages of forming one single public-sector general insurer
BUSINESS
Life insurers paid Rs 3.3 lakh crore of benefits in FY19, a record high
Life insurance industry also saw a reduction in the surrender of unit-linked insurance plans
BUSINESS
Technology will create more, better job opportunities in 2020: Shine.com CEO
Jobs across avenues such as education, energy, healthcare, environment, and financial services will remain secure in 2020, said Zairus Master, CEO, Shine.com
BUSINESS
Tier I cities still top focus for health insurers for branch presence
Of the 883 offices of health insurers, a whopping 793 offices are in Tier I locations. During FY19, a total of 108 new offices were opened by standalone health insurers
BUSINESS
Coming soon: A blacklist for CV fraudsters
The HR industry is in the process of creating a blacklist that will have details of all minor and major discrepancies in the candidate’s resume.
BUSINESS
Placements crisis: As anti-CAA protests drive away recruiters, anxious institutes seek police protection
Some recruiters have stayed away from certain campuses on fear of violence or even to avoid being seen as taking an anti-government stance.
BUSINESS
Insurers seek tax relief from GST Council, want tax rate pared to 5%
An 18 percent GST rate is applicable for a majority of insurance products. Insurers want GST to be cut to 12 percent initially and then to 5 percent.
BUSINESS
General Insurance Council proposes fixed Rs 10 lakh motor third-party cover, cess for road accident fund
At present, there is unlimited liability as far as motor TP insurance is concerned. The Council wants the government to limit this liability
BUSINESS
JNU Row: Use of WhatsApp for university exams is mockery of education
School of International Studies, JNU has proposed holding semester examinations over WhatsApp after student protests disrupted lectures
BUSINESS
Pay raise in 2020 to be negligible once adjusted for inflation
Going forward, your real salaries may see a less than 5 percent annual rise because of food and medical inflation.
BUSINESS
Wipro Consumer eyes larger play in smart lighting space
As far as products are concerned, apart from LED batten and downlights. Wipro Consumer Care is also present in the smart sockets and smart doorbells space.
BUSINESS
Kent RO launches ‘zero water-wastage’ purifier
In the new product, the water recovery or the amount of water converted to purified water has been enhanced to 50 percent from the earlier 25 percent. The rest of the water goes back to the water source in the building.
BUSINESS
Want protection biz to be 25% of annualised premium equivalent in 3 years: HDFC Life CEO
Vibha Padalkar said that HDFC Life has been able to grow the H1FY20 topline by 38 percent in a tough market.
BUSINESS
Toffee Insurance raises Series A funding of $5.5 million
This is Toffee Insurance’s second consecutive raise from four of the five key investors after their initial funding round of USD 1.5 million last year.
BUSINESS
Five innovative appliances that you can buy in 2020
From robot chefs to folding TVs, consumers will have an array of unique appliances to choose from in 2020
BUSINESS
Samsung eyes top spot in room air-conditioner segment by 2022
Samsung will re-enter segments like window air-conditioners to offer a better product variety to customers.
BUSINESS
Here’s how your insurance policy will look like in 2020
Though a slew of changes will offer more coverage under standard products, the premiums may go up by atleast 10 percent
BUSINESS
Here’s why leave encashment must be a rule, not an exception
While employees are entitled to take a set number of leaves each year, atleast 5-10 percent of this remains underutilised.
